Windrush Garage Limited

	Page
Strategic Report	1—2
Directors' Report	3—4
Independent Auditor's Report	5—8
Statement of Comprehensive Income	9
Statement of Financial Position	10
Statement of Changes in Equity	11
Notes to the Financial Statements	12—20

The directors present their strategic report for the year ended 31 December 2025.

Review of the Business

Windrush Garage Limited continued its success and performed well in 2025 making a profit before tax of £0.6m (2024: £0.9m).

Reported turnover has increased from £24.5m to £25.9m despite a decrease in new vehicle units sold from 4,158 to 3,785 as a result of fewer numbers of vehicles having been sold through the Agency model and greater numbers through the traditional sales model in 2025. In addition, 7 retail vehicles were sold through the Retail Agency model before Volkswagen decided not to continue with this channel.

The Company maintained the drive to improve efficiency and reduce cost whilst enhancing the customer experience.

The Directors’ consider the Company to be well placed to face the uncertainties of the future and take advantage of further opportunities that may arise.

It is with great sadness that the Board announces the death of Tony Rosner , who co-founded the Windrush dealership back in April 1982. Although not involved in the business in recent years, Tony laid the foundations that enabled Windrush to become the flourishing company that it is today.

Principal Risks and Uncertainties

The management of the business and the nature of the company's strategy are subject to a number of risks. The directors have set out below the principal risks facing the business:-

General economic conditions

The general economic environment and levels of consumer and business confidence have a direct impact on levels of demand in the motor retail sector. In addition, fuel prices, interest rates and levels of employment can all significantly impact sales levels. Demand levels are closely monitored by the business on an on-going basis (via sales and enquiry analysis) and action taken accordingly if these measures deviate from expectation.

Manufacturer relationship

The company relies on the strength of its relationship with its vehicle manufacturer to deliver a significant component of group profitability. Changes in the fortunes and strategy of the company's key manufacturer partner could directly impact the company's result. The directors are confident that the future new products from its manufacturer/supplier will continue to be competitively priced and high quality and therefore consider that this "manufacturer risk" is minimal. It is, in any case, mitigated by other core business areas of the business including used vehicle sales, parts sales and service work.

Used vehicle prices

Used vehicle price volatility can present a significant risk in the event that the market price moves rapidly between the point of purchase and the point of sale of a used vehicle. This leads to reduced margins and increased provisions on unsold stock. This risk is mitigated by a combination of regular monitoring of the used vehicle market by the company's used car buyers, a focus on stock turn to reduce the length of time that used vehicles are held in stock, and regular review and re-pricing to ensure that vehicles are competitively priced in the market.

People and reputation

The company has invested heavily in its people and its reputation over a number of years. The company is therefore reliant on these individuals to a degree in delivering the company's result and reinforcing the Windrush brand. The company undertakes a regular review of remuneration packages to ensure that it attracts and retains the best people.

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Windrush Garage Limited

Strategic Report (continued)

For The Year Ended 31 December 2025

Key Performance Indicators

	2025	2024
	Units	Units
New car retail volumes	3,785	4,098
Used car volumes	586	545

On behalf of the board

L Chappell

Director

22nd April 2026

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Windrush Garage Limited

Company No. 01631994

Directors' Report For The Year Ended 31 December 2025

Directors' Report

The directors present their report and the financial statements for the year ended 31 December 2025.

Principal Activity

The principal activity of the company is the operation of a car dealership.

Future Developments

There are no future developments to report.

Dividends

The value of dividends paid amounted to £450,000 (2024: £600,000).

The directors do not recommended a final dividend.

Financial Instruments

The company uses various financial instruments, other than derivatives, which include stocking loans, cash and various items, such as consignment stock, trade debtors and trade creditors that arise directly from operations. The main purpose of these financial instruments is to raise finance for the company's operations. Their existence exposes the company to a number of financial risks. The significant risks arising from the company's financial instruments are interest rate risk, liquidity risk and credit risk.

The directors review and agree policies for the management of each of these risks which are noted below.

Interest rate risk

The company sometimes uses bank borrowings and other loans to finance its operations during peak periods. The Bank of England base rates have decreased in 2025, mitigating this risk to some degree, and are currently standing at 3.75%. The company's interest payments on its variable rate borrowings tracked to that rate have therefore decreased.

Liquidity risk

The company seeks to manage risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash and assets safely and profitably.

The company's policy throughout the year has been to achieve this objective through the day to day involvement of management in business decisions rather than through setting maximum or minimum liquidity ratios.

Credit risk

The company's principal financial assets are cash and trade debtors. The credit risk associated with the cash is minimal as the counterparts have high credit ratings assigned by international credit-rating agencies. The principal credit risk therefore arises from its trade debtors.

In order to manage credit risk, the directors have implemented processes to ensure receipt of cleared funds for vehicle sales before the vehicle is released. Other trade debtors require an approved credit limit in advance. The directors set credit limits for customers based on a combination of payment history and third party credit references. Credit limits are reviewed by the finance director on a regular basis.

Directors

The directors who held office during the year were as follows:

L Chappell

A P Rosner (deceased 8 March 2026)

T S Attwood

Matters covered in the Strategic Report

Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the directors consider them to be of strategic importance to the business.

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Windrush Garage Limited

Directors' Report (continued)

For The Year Ended 31 December 2025

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Independent Auditors

The auditors, Ascendis Audit Limited, will be proposed for re-appointment in accordance with section 485 of the Companies Act 2006.

On behalf of the board

L Chappell

Director

22nd April 2026

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Independent Auditor's Report

to the Members of

Windrush Garage Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Windrush Garage Limited for the year ended 31 December 2025 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon.

The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

Windrush Garage Limited

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 3—4, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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Independent Auditor's Report (continued)

to the Members of

Windrush Garage Limited

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following;

- the nature of the industry, control environment and business performance including the design of the company's remuneration policies, key drivers for directors' remuneration, bonus levels and performance targets;

- of our enquiries of management about their own identification and assessment of the risks of irregularities;

- any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to:

- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of

non-compliance, in particular in relation to the FCA;

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas: bank payment processing, payroll, sales processing, used/demo stock valuation, and credit card/cash transactions.

In common with all audits under lSAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination ofmaterial amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, pensions legislation and tax legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. These included the company's FCA regulatory requirements.

Audit response to risks identified:-

Our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

- enquiring of management concerning actual and potential litigation and claims;

- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- reviewing correspondence with the FCA and;

- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments;

- assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and

- evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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Independent Auditor's Report (continued)

to the Members of

Windrush Garage Limited

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Paul Allan Byrne BA (Double Hons) FCA (Senior Statutory Auditor)

for and on behalf of Ascendis Audit Limited , Statutory Auditor

22nd April 2026

Ascendis Audit Limited

Unit 3, Building 2, The Colony

Altrincham Road

Wilmslow

Cheshire

SK9 4LY

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Windrush Garage Limited

Statement of Comprehensive Income

For The Year Ended 31 December 2025

Statement of Comprehensive Income

		2025	2024
	Notes	£	£
TURNOVER	3	25,896,733	24,541,619
Cost of sales		(22,567,664 )	(21,347,237 )

GROSS PROFIT		3,329,069	3,194,382

Administrative expenses		(3,040,708 )	(2,565,235 )
Other operating income		347,100	294,600

OPERATING PROFIT	5	635,461	923,747
Income from Shares in group undertakings		-	600,000
Other interest receivable and similar income	10	6,980	3
Interest payable and similar charges	11	(43,567 )	(49,731 )

PROFIT BEFORE TAXATION		598,874	1,474,019
Tax on Profit	12	(156,461 )	(224,643 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		442,413	1,249,376
OTHER COMPREHENSIVE INCOME FOR THE YEAR		-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR		442,413	1,249,376

The notes on pages 12 to 20 form part of these financial statements.

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Windrush Garage Limited

Statement of Financial Position

As At 31 December 2025

Statement of Financial Position

Registered number: 01631994

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	14		110,401		113,109
Investments	15		1,000		1,000

			111,401		114,109
CURRENT ASSETS
Stocks	16	3,634,153		3,259,112
Debtors	17	2,425,765		2,803,122
Cash at bank and in hand		1,531,467		8

		7,591,385		6,062,242
Creditors: Amounts Falling Due Within One Year	18	(5,741,475 )		(4,207,318 )

NET CURRENT ASSETS (LIABILITIES)			1,849,910		1,854,924

TOTAL ASSETS LESS CURRENT LIABILITIES			1,961,311		1,969,033

PROVISIONS FOR LIABILITIES
Deferred Taxation			(25,249 )		(25,384 )

NET ASSETS			1,936,062		1,943,649

CAPITAL AND RESERVES
Called up share capital	20		351,579		351,579
Revaluation reserve			1,601		1,601
Income Statement			1,582,882		1,590,469

SHAREHOLDERS' FUNDS			1,936,062		1,943,649

On behalf of the board

L Chappell

Director

22nd April 2026

The notes on pages 12 to 20 form part of these financial statements.

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Windrush Garage Limited

Statement of Changes in Equity

For The Year Ended 31 December 2025

Statement of Changes in Equity

	Share Capital	Revaluation reserve	Income Statement	Total
	£	£	£	£
As at 1 January 2024	351,579	1,601	941,093	1,294,273
Profit for the year and total comprehensive income	-	-	1,249,376	1,249,376

Dividends paid	-	-	(600,000)	(600,000)

As at 31 December 2024 and 1 January 2025	351,579	1,601	1,590,469	1,943,649


Profit for the year and total comprehensive income	-	-	442,413	442,413

Dividends paid	-	-	(450,000)	(450,000)

As at 31 December 2025	351,579	1,601	1,582,882	1,936,062

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Windrush Garage Limited

Notes to the Financial Statements

For The Year Ended 31 December 2025

Notes to the Financial Statements

1. General Information

Windrush Garage Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01631994 . The registered office and principal place of business is 57 Farnham Road, Slough, SL1 3TN.

The principal activity of the company is the operation of a motor dealership involving the sale, maintenance and repair of motor vehicles and the supply of related accessories.

The presentational currency is Pound Sterling (£) and amounts are rounded to the nearest £.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.

2.2. Financial Reporting Standard 102 - Reduced Disclosure Exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows and Section 3 Financial Statement Presentation paragraph 3.17 (d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44, 11.45, 11.47, 11.48 (a) (iii), 11.48 (a) (iv), 11.48 (b) and 11.48 (c);
the requirements of Section 12 Other Financial Instruments Issues paragraphs 12.27, 12.29 (a), 12.29 (b), 12.29A and 12.30;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

2.3. Exemption From Preparing Consolidated Financial Statements

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts as it is itself consolidated within a larger UK group. The financial statements present information about the company as an individual entity and not about its group.

2.4. Significant judgements and estimations

The preparation of the financial statements requires management to make judgements, estimates and assumptions

that affect the amounts reported for assets and liabilities at the reporting date and the amounts reported for revenues

and expenses during the year. However, the nature of estimation means that actual outcomes might differ from those

estimates.

The following judgements have been made by the directors in applying the company's accounting policies:

Property, plant and equipment

At each reporting date property, plant and equipment is assessed for any indication of impairment. If such an

indication exists, the recoverable amount of the asset is determined based on value in use calculations which require

estimates to be made of future cash flows. An impairment loss is recognised where the carrying amount exceeds the

recoverable amount.

Consignment stock

Consignment stock has been included within the company's Consolidated Statement of Financial Position on the grounds

that the company considerably bears the risks and rewards of ownership attached to these vehicles. As such, the

consignment stock is considered to be under control of the company.

Stock valuation

Stock valuation is regularly monitored against age profile and market demand. Management use a number of market

tools during the appraisal process including Glass' and CAP valuation guides. The directors perform regular reviews to

assess if any provision is required.

Brand incentives

The company receives income in the form of various incentives which are determined by the company's brand partner. The

amount receivable is generally based on achieving specific objectives such as a specified sales volume, as well as other

objectives including maintaining brand partner standards which may include, but are not limited to, retail centre image

and design requirements, customer satisfaction survey results and training standards. Objectives are generally set and

measured on either a quarterly or annual basis.

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Windrush Garage Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.5. Turnover

Turnover is measured at the fair value of the consideration receivable, net of discounts, rebates and value added taxes.

Turnover from the sale of goods is recognised in the Statement of Income and Retained Earnings, net of discounts, rebates and value added tax when the significant risks and rewards of ownership have been transferred to the buyer. In general this occurs when vehicles or parts have been supplied or when a service has been completed.

Commission income is accounted for on a receivable basis.

2.6. Intangible Fixed Assets and Amortisation - Other Intangible

Computer software has been amortised over its estimated useful life of 4 years. Computer software has been fully amortised.

2.7. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	straight line over period of lease
Plant & Machinery	15% - 25% per annum on a straight line basis
Fixtures & Fittings	20% per annum on a straight line basis
Computer Equipment	25% per annum on a straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

Revaluation of tangible fixed assets

The company took advantage of the exemption under Financial Reporting Standard 102 to treat the value of all revalued assets as deemed cost going forward on transition.

2.8. Investments

Fixed asset investments represent shares in a subsidiary undertaking and are stated at cost less impairment.

2.9. Stocks and Work in Progress

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of Income and Retained Earnings.

Consignment vehicles are regarded as being under the control of the company, and in accordance with FRS 102 are included in stocks on the Statement of Financial Position, although legal title has not passed to the company. The corresponding liability is included in trade and other creditors and is secured directly on these vehicles.

2.10. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.11. Financial Instruments

The company only has basic financial instruments, which are recognised at amortised cost.

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Windrush Garage Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.12. Taxation

Current tax

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Statement of Financial Position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

2.13. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.

2.14. Borrowing Costs

Borrowing costs are charged to the Statement of Income and Retained Earnings on an accruals basis.

2.15. Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

3. Turnover

Analysis of turnover by class of business is as follows:

	2025	2024
	£	£
Sale of goods	24,009,550	22,900,403
Rendering of services	1,281,487	1,236,494
Commission	605,696	404,722

Total	25,896,733	24,541,619

All turnover was generated in the UK in both years.

4. Other Operating Income

	2025	2024
	£	£
Other operating income	347,100	294,600

	347,100	294,600

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Windrush Garage Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

5. Operating Profit

The operating profit is stated after charging:

	2025	2024
	£	£
Bad debts	6,000	6,000
Depreciation of tangible fixed assets	34,483	47,698

6. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2025	2024
	£	£
Audit Services
Audit of the company's financial statements	5,450	5,250

7. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2025	2024
	£	£
Wages and salaries	2,523,764	2,231,904
Social security costs	297,532	245,827
Other pension costs	74,219	64,198

	2,895,515	2,541,929

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Windrush Garage Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

8. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2025	2024
Office and administration	40	41
Directors	3	3

	43	44

9. Directors' remuneration

	2025	2024
	£	£
Emoluments	790,723	605,759
Company contributions to money purchase pension schemes	46,000	36,500

	836,723	642,259

The number of directors to whom retirement benefits were accruing was as follows:

	2025		2024
Money purchase pension schemes	2		2

Information regarding the highest paid director was as follows:

	2025	2024
	£	£
Emoluments	429,673	316,911
Company contributions to money purchase pension schemes	27,600	21,900

	457,273	338,811

10. Interest Receivable and Similar Income

	2025	2024
	£	£
Bank interest receivable	6,980	3
Dividends from shares in subsidiaries	-	600,000

	6,980	600,003

11. Interest Payable and Similar Charges

	2025	2024
	£	£
Bank loans and overdrafts	2,567	8,819
Other finance charges	41,000	40,912

	43,567	49,731

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Windrush Garage Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

12. Tax on Profit

	Tax Rate		2025	2024
The tax charge on the profit for the year was as follows:
	2025	2024	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	156,596	224,716
Deferred Tax
Deferred taxation			(135 )	(73 )


Total tax charge for the period			156,461	224,643


The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
			2025	2024
			£	£
Profit before tax			598,874	1,474,019

Tax on profit at 25% (UK standard rate)			149,719	368,505
Goodwill/depreciation not allowed for tax			8,621	11,925
Expenses not deductible for tax purposes			7,835	6,139
Capital allowances			(9,510 )	(11,666 )
Short term timing differences			(204 )	(260 )
Dividends from companies			-	(150,000 )

Total tax charge for the period			156,461	224,643

13. Intangible Assets

	Other
	£
Cost
As at 1 January 2025	16,650

As at 31 December 2025	16,650

Amortisation
As at 1 January 2025	16,650

As at 31 December 2025	16,650

Net Book Value
As at 31 December 2025	-

As at 1 January 2025	-

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Windrush Garage Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

14. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Total
	£	£	£
Cost
As at 1 January 2025	195,631	772,833	968,464
Additions	-	36,145	36,145
Disposals	(195,631 )	-	(195,631 )

As at 31 December 2025	-	808,978	808,978

Depreciation
As at 1 January 2025	191,261	664,094	855,355
Provided during the period	-	34,483	34,483
Disposals	(191,261 )	-	(191,261 )

As at 31 December 2025	-	698,577	698,577

Net Book Value
As at 31 December 2025	-	110,401	110,401

As at 1 January 2025	4,370	108,739	113,109

15. Investments

	Subsidiaries
	£
Cost or Valuation
As at 1 January 2025	1,000

As at 31 December 2025	1,000

Provision
As at 1 January 2025	-

As at 31 December 2025	-

Net Book Value
As at 31 December 2025	1,000

As at 1 January 2025	1,000

Subsidiaries

Details of the company's subsidiaries as at 31 December 2025 are as follows:

Name of undertaking	Registered Office	Class of shares held	Direct holding	Indirect holding
Windrush Maidenhead Limited	57 Farnham Road, Slough, SL1 3TN	Ordinary	100.00%	-

The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:

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Windrush Garage Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

	Capital and Reserves	Profit/(loss)
	£	£
Windrush Maidenhead Limited	1,073,434	100,402

16. Stocks

	2025	2024
	£	£
Vehicle stock	3,567,392	3,179,988
Parts stock	66,761	79,124

	3,634,153	3,259,112

The movements and balances on the stock provision were not material in either year.

17. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	1,193,647	1,433,299
Amounts owed by group undertakings	901,654	1,078,458
Other debtors	330,464	291,365

	2,425,765	2,803,122

The movements and balances on the bad debt provision were not material in either year.

18. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	4,519,692	3,326,013
Bank loans and overdrafts	-	415,554
Corporation tax	156,596	124,716
Taxation and social security	562,042	219,507
Accruals and deferred income	503,145	121,528

	5,741,475	4,207,318

19. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 January 2025	25,384	25,384
Utilised	(135 )	(135)

Balance at 31 December 2025	25,249	25,249

The provision for deferred tax comprises:-

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Windrush Garage Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

	2025	2024
	£	£
Accelerated capital allowances	25,440	25,644
Short term timing differences	(191)	(260)

	25,249	25,384

20. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
351,579 Ordinary Shares of £ 1.00 each	351,579	351,579

21. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund an amounted to £74,219 (2024: £64,198). At the year end contributions amounting to £765 (2024: £1,038) were payable to the scheme.

22. Dividends

	2025	2024
	£	£
On equity shares:
Interim dividend paid	450,000	600,000

23. Related Party Disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within its group.

All related party transactions are conducted on an arm's length basis.

At the balance sheet date the company was owed £901,654 (2024: £1,078,458 by group companies.

During the year the company paid rent of £320,000 (2024: £320,000) to a director of the company.

Windrush Trade Parts Limited

This is a company in which the directors of the company have an interest.

During the year the company recharged expenses of £28,390 (2024: £40,387) to Windrush Trade Parts Limited.

During the year the company purchased goods amounting to £14,347 (2024: £16,119) from Windrush Trade Parts Limited.

At the year end the company was owed £1,391 (2024: £3,370) by Windrush Trade Parts Limited.

24. Controlling Parties

The company's immediate and ultimate parent undertaking is Windrush Automotive Group Limited (incorporated in England & Wales). Its registered office is 57 Farnham Road, Slough, SL1 3TN.

Copies of the group accounts may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.

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